UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Cardinal Health, Inc. $CAH

Key Points

• UBS Asset Management reduced its Cardinal Health position by 4.2% in the second quarter, selling 97,860 shares and retaining 2.22 million shares valued at approximately $528.5 million. Institutional investors collectively own 87.17% of the company.
• Analysts remain broadly optimistic, with 16 Buy ratings and three Holds; Cardinal Health has a “Moderate Buy” consensus rating and an average price target of $266.56, above its reported $234.72 share price.
• Cardinal Health reported quarterly EPS of $2.91, beating estimates by $0.49, while revenue rose 5.8% year over year to $63.67 billion. The company also declared a quarterly dividend of $0.5158 per share, or a 0.9% annualized yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Cardinal Health, Inc. (NYSE:CAH - Free Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,224,578 shares of the company's stock after selling 97,860 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.96% of Cardinal Health worth $528,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Integrated Wealth Concepts LLC boosted its position in Cardinal Health by 6.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,363 shares of the company's stock worth $601,000 after purchasing an additional 280 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Cardinal Health by 198.3% during the 1st quarter. Jones Financial Companies Lllp now owns 21,112 shares of the company's stock valued at $27,000 after purchasing an additional 14,034 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Cardinal Health during the 2nd quarter valued at about $1,935,000. Cerity Partners LLC lifted its stake in shares of Cardinal Health by 17.0% in the 2nd quarter. Cerity Partners LLC now owns 40,426 shares of the company's stock worth $6,792,000 after purchasing an additional 5,880 shares during the period. Finally, Nebula Research & Development LLC boosted its holdings in shares of Cardinal Health by 34.4% in the second quarter. Nebula Research & Development LLC now owns 10,334 shares of the company's stock worth $1,736,000 after buying an additional 2,646 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CAH shares. Barclays boosted their target price on shares of Cardinal Health from $258.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, August 13th. Mizuho lifted their price target on shares of Cardinal Health from $240.00 to $250.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 12th. Wall Street Zen raised shares of Cardinal Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. Bank of America upped their price objective on Cardinal Health from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird raised their target price on Cardinal Health from $251.00 to $274.00 and gave the stock an "outperform" rating in a report on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cardinal Health presently has an average rating of "Moderate Buy" and an average target price of $266.56.

Cardinal Health Trading Up 0.1%

NYSE CAH opened at $234.72 on Monday. Cardinal Health, Inc. has a 12 month low of $145.87 and a 12 month high of $258.30. The stock has a market cap of $54.59 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 1.41 and a beta of 0.49. The company's 50 day moving average is $233.10 and its two-hundred day moving average is $218.37.

Cardinal Health (NYSE:CAH - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $2.91 EPS for the quarter, beating the consensus estimate of $2.42 by $0.49. The firm had revenue of $63.67 billion for the quarter, compared to the consensus estimate of $65.15 billion. Cardinal Health had a net margin of 0.67% and a negative return on equity of 98.53%. The company's revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. Cardinal Health has set its FY 2027 guidance at 12.400-12.600 EPS. Sell-side analysts forecast that Cardinal Health, Inc. will post 12.55 EPS for the current year.

Cardinal Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Thursday, October 1st will be paid a $0.5158 dividend. This represents a $2.06 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, October 1st. Cardinal Health's dividend payout ratio is presently 28.49%.

Insider Activity

In related news, CEO Stephen M. Mason sold 35,000 shares of the firm's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $236.40, for a total transaction of $8,274,000.00. Following the completion of the transaction, the chief executive officer directly owned 18,061 shares of the company's stock, valued at approximately $4,269,620.40. This trade represents a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michelle D. Greene sold 11,650 shares of Cardinal Health stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $235.72, for a total value of $2,746,138.00. Following the completion of the sale, the insider directly owned 10,330 shares in the company, valued at $2,434,987.60. This trade represents a 53.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 210,271 shares of company stock valued at $49,626,657 in the last quarter. Company insiders own 0.12% of the company's stock.

About Cardinal Health

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company's core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.

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